He then simply moved the money between Chase Bank and a U.K. corporation called Madoff Securities International Ltd., (both claim to have known zero knowledge to any wrongdoings of Bernard). Closer to his arrest, he got desperate and started to solicit and sometimes threaten clients for more deposits. Not only were several investors out millions of dollars after the arrest, but several organizations lost their donation money due to Madoff unethical decisions. Many people lost their life savings due to the fall-out. Several family members became under attack and tragically Madoff’s son committed suicide.
These men were creative and industrious leaders who helped make America's economy, which was slacking, into a thriving economy. It is said, " They were praised for their skills as well as for their philanthropy (charity)." For that reason, I believe they weren't robber barons because of their generosity of giving money to others who needed it. They set an example to all of America that if you work hard you can achieve anything. These heroes transformed America into a thriving country economically by the use of vertical or horizontal monopolies.
Case 1: Bernard Madoff’s Ponzi scheme 1. Introduction and brief of the case Bernard Madoff’s Ponzi scheme that occured in the end of 2008 is one of the largest financial fraud in history. Bernard Madoff operated a major Ponzi scheme through this wealth management company. He pleaded guilty to 11 counts of financial fraud and theft in March 2009 and three month later was sentenced to 150 years in prison. This fraud was thought to have cost clients more than $10 billion.
Body Paragraph 2: Bonnie and Clyde was a well known criminal couple who went on a two-year crime spree during the Great Depression. During this time the public opinion of the government was negative so they used this to their advantage to get what they want. They were suspects of many different crimes from murder, robbery, and kidnapping. As their crime spree
Over 6,000 lives, most of them American, have been lost because of his actions. Many Muslims have now been given a stereo type of being “violent terrorists,” just because of the alacrities of a handful of extremists. Due to bin Laden’s interfering with the United States, they abortively invaded Afghanistan, punching a dent in President Bush’s presidency, and throwing the economy into turmoil. Any hope of returning to the former lifestyle that Americans had once enjoyed has been long dissipated. Al-Qaeda, the terrorist group that he founded in the early 1980’s, has been encouraging other minor terrorists to take action, making the world an over-all more dangerous place to live.
Yet the possibility remained that it was his death that would leave the strongest mark on pop culture; his murder sparked considerable debate about the end of the "Gangster" era and the futility of the "Thug Life’’(The Gale Group, Inc. Contemporary Black Biography 2006). In the words of the greatest rapper that was ever born and touched many people-“ U Ever share your soul with a stranger only to realize he was a long lost friend? Ever talk 2 a man like U with a woman and share what you can’t with other men?” Written exuxlusively 4 Angela from Tupac Shakur. (Ardis, Angela, Inside A Thug’s Heart, New York City,
Convicted felons of the world today are not equally privileged as those who are not convicted felons. Many people believe that felons shouldn’t receive another chance due to the crimes that the individual have committed or been found guilty of. Whatever the situation may be, there should always be room for chances. God gives us chance after chance on a daily, weekly, monthly, and yearly basis. Acts 13:38 (NIV) states “Therefore, my brothers, I want you to know that through Jesus the forgiveness of sins is proclaimed to you.” This clearly supports the fact that we are human and are going to make mistakes and should be forgiven.
Paul Nasr, president of Morgan Stanley, decided to focus on this area and hired Rob Parson who was known to have strong relationships with important players in the banking industry. Parsons’ accepted the job with the title of “Principal” with the understanding that he would be on the fast track to managing director. Quickly Rob was making things happen at Morgan Stanley. He was creating business where there was once nowhere to create. He was making sales happen, but he was making them happen on his terms, which was starting to frustrate many of his co workers.
Kenneth Lay former CEO was indicted on 11 criminal counts of fraud and making misleading statements. Jeff Skilling was indicted on 35 counts of wire fraud, securities fraud, conspiracy, making false statement on financial reports, and insider trading. Hence both were responsible for collapse of Enron. There are a several reasons that led to Enron’s collapse namely; a corrupt leadership at the top, violation of laws that were not impose by the company’s CEO, and Lack of regulation Enron had one of the best ethics code in the industry. First, not work out with written ethics and compliance codes clearly describe how was the company collapse, moreover corruption from leaders at the top and middle level of organizations is a recipe for disaster.
According to the author’s viewpoint, many scandals have happened because of the following illegal behaviors. It can be clearly seen from the case that the most obvious scandal is that Tyco’s money has been used for personal expenses. CEO Kozlowski was accused of using corporate funds to illegally purchase precious artworks, residences, and properties. More importantly, Kozlowski used Tyco’s $1.5 million to pay for his second wife’s birthday week (Stanwick & Stanwick, 2009). Another unethical action that suffers complaining from many critics is that Kozlowski, together with some other members of Tyco’s management, have received unreasonably high compensation levels, which contributed to the fall of Tyco’s stock (Stanwick & Stanwick, 2009).